Govt unlikely to announce capital infusion for PSU banks in Union Budget 2022
Business | December 12, 2021 11:40 ISTFinance Minister Nirmala Sitharaman is expected to present the fourth budget of the Modi 2.0 government on February 1.
Finance Minister Nirmala Sitharaman is expected to present the fourth budget of the Modi 2.0 government on February 1.
The first test case of the new mechanism was a capital infusion of Rs 5,500 crore into Punjab and Sind Bank by issuing zero-coupon bonds of six different maturities last year.
Equity parameters erased most of the intraday gains on Wednesday due to profit booking but ended in the positive territory as investors focused on the prospect that economies are re-opening across the world from COVID-19 pandemic.
State-owned banks disbursed a record Rs 2,52,589 crore of loans during the month. As much as Rs 1,05,599 crore was given towards new term loans while Rs 46,800 crore was disbursed as new working capital loans, the Department of Financial Services said in a statement.
The meeting is expected to review fund flow to stressed NBFC and MSME (micro, small and medium enterprises) sectors, sources said.
Employees of all public and private sector banks wore black badges to work as a mark of protest to the government's decision.
Referring to Rs 2.11 lakh crore recapitalisation of ailing PSU banks, Chidambaram asked “why was the process of bank recapitalisation needed if the govt believes the economy is strong”.
Other factors like prospects of additional liquidity, healthy buying in bluechip stocks, along with hopes of better quarterly results aided in the key indices upward trajectory.
Services at public sector banks may take a hit on Tuesday as all unions under the aegis of UFBU have threatened to go on strike.
Jaitley will meet heads of public sector banks and financial institutions on June 12 to discuss issues related to rising bad loans, interest rate reduction and credit flow to various sectors.
The government is actively considering a proposal by the Banks Board Bureau to incentivise employees of state-run banks through stock options.
Finance Minister Arun Jaitley today stated that four PSU banks are working towards keeping the number of zero-balance accounts low. The banks are "investigating from their branches" whether money in some Jandhan accounts was deposited
Gurgaon: An expert panel will be set up shortly to devise a strategy for consolidation of public sector banks as India needs stronger lenders rather than a "numerically large number" of them, Finance Minister Arun
New Delhi: Prime Minister Narendra Modi today said the government has initiated a series of banking reforms including re-capitalisation of PSU banks, change in rules for hiring top management and paper-less transactions to curb the
New Delhi: Finance Minister Arun Jaitley will meet PSU bankers to discuss stake sale plans and the problem of rising bad loans which have crossed a staggering Rs 2.5 lakh crore.“Banks are coming to meet
New Delhi: PSU banks have reported over 2,100 fraud cases involving a sum of Rs 11,022 crore in the first nine months of the ongoing fiscal, with PNB reporting the maximum number of such instances.An
New Delhi: With most PSU banks remaining reluctant to pass on the benefit of monetary policy easing by RBI, Finance Minister Arun Jaitley today said he expects the lenders to cut interest rates soon."We do
New Delhi: The top 30 defaulters are sitting on bad loans of Rs 95,122 crore, which is more than one-third of the entire non-performing assets of public sector banks as on December 2014."As per data
The Union government has advised PSU banks to step up lending to minorities with a view to ensuring that they get loans in proportion to their population.The decision to increase lending to the minorities was
Mumbai: The country's largest lender, SBI has said that public sector banks should be given an opportunity to tap the best talent from premier institutes like IITs and IIMs."The public money goes into formation of
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